The lending institution will provide ex-gratia payment to the borrower account of the difference between compound interest and simple interest on loan accounts with sanctioned limits and outstanding up to Rs. Know More, Disclaimer - "As regards deposit taking activity o f the company, the viewers may refer to the advertisement in the newspaper / information furnished in the application form for soliciting public Loans for consumption purposes (e.g., social ceremonies, etc.) Let us know the Gratuity and Pension Commutation amount also using the below calculator. An ex-gratia payment will be credited to their loan accounts. The main focus of the scheme is reduce the workforce in BSNL. does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by 8,00,000, Expected Compensation Amount = 28,00,000 + 8,00,000 = Rs. April 14, 2020 By govtstaffnews.in Leave a Comment. To read the scheme announced by the Government of India (GoI), Ministry of Finance (vide no. Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts (1.3.2020 to 31.8.2020) As per letter dated 23.10.2020 issued by the Department of Financial Services of the Ministry of Finance, Government of India, we have granted ex-gratia to the eligible borrowers of Auto Loans, under the scheme mentioned … of India? Final Rules are yet to be announced by the organisations. April 12, 2020 admin Leave a Comment. You can also call it Thus we have developed BSNL Employees VRS calculator to calculate the ex gratia amount of BSNL … As per the announcement, six month period from March 24, 2020, to 23 September 2020 if anybody dies due to COVID-19 infection while on duty with FCI as follows: Regular FCI Labour: 15 lakh; Contractual Labour: … Salary Calculator; 7th Pay Commission News; DA News; OROP; DOPT Orders; Pension; PIB; Govtstaffnews. 28,00,000, Compensation for remaining Years = 25 days x 10 x 3200 = Rs. The Government of India has announced the scheme for grant of ex-gratia payment of difference between compound interest and simple interest for period upto six months to eligible borrowers in specified loan accounts (1.3.2020 to 31.8.2020). 17,50,000, Compensation for remaining Years = 25 days x 5 x 2000 = Rs. Ex-gratia Payment Calculator You can use the Interest on Interest Waiver calculator below to estimate the waiver amount you may be eligible for as a result of this scheme Compound Interest charged between Mar - Aug, 2020 7,713.93 25,00,000 ( It is less than 42 months salary), One Day Salary = (Basic+DA)/30days = 96000/30 =  Rs. Please visit your nearest DHFL branch for detailed information on our various products and changes, if any. LTC cash voucher scheme Calculator: Expected DA from January 2021 Calculator: Holiday on October 30, 2020: 7th Pay Commission Calculator 2021 – June vs July : Special festival package to Govt Servants Rs 10000/-Quick links; Hot news: Dopt orders: Recent govt orders: Recent post: Ex gratia Death Relief Fund of Rs. One Day Salary = (Basic+DA)/30days = 60000/30 =  Rs. The scheme provides that the exercise of crediting the amount under the scheme shall be completed by respective lending institutions on or before 05 th November 2020. Some expected Rules are listed below for basic understanding. The government has rolled out an interest relief package – Ex-gratia Payment Scheme – for borrowers having sanctioned and outstanding loan limits not exceeding INR 2 Crores. BSNL MTNL VRS Benefits Calculation Rules. 20,00,000 x 1.25 times = Rs. The Government of India has announced a Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts (01.03.2020 to 31.08.2020) (the ‘Scheme’) on October 23, 2020, which mandates ex-gratia payment to certain categories of borrowers by way of crediting the difference between simple interest and … 42,500/­ and who are on Leave Without Allowance under Rule 90 for the treatment of T.B., Leprosy, Cancer or mental disease, subject to the conditions therein. 14,875/ and a minimum of Rs.9,915/­ per mensem is admissible to employees, drawing a basic pay not exceeding Rs. Ex Gratia Payment. Rule 7: Payment of Ex Gratia and Pension Without Commutation will be paid after 5 years of VRS or 60 years age whichever is earlier. Hence we have developed a Common calculator to calculate the Ex Gratia Amount as per Clause 6.1 (a) of the Guidelines. The scheme mandates ex-gratia payment to standard accounts by lending institutions as per terms and conditions of the scheme. • Loan accounts should be Standard in the books of the lending institutions as on 29.02.2020. Government … Regd. However, loans against fixed deposits [including Foreign Currency … BSNL MTNL VRS Package or Ex-Gratia Calculator @125% and Rules Explained - 23.10.2019, ExamTray App is now Available on Google Play. and email id on. The Government of India has announced a Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts (01.03.2020 to 31.08.2020) (the ‘Scheme’) on October 23, 2020, which mandates ex-gratia payment to certain categories of borrowers by way of crediting the difference between simple interest and … Details about VRS - Voluntary Retirement Scheme Scheme in BSNL and MTNL subsidiaries of the Government are announced. 36,00,000 x 1.25 times = Rs. Eligibility for VRS. However, the National Housing Bank does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the In an earlier post, we had discussed how the Government is considering waiver of interest on interest (compound interest) for the loan moratorium period of 6 months from March 1, 2020 until August 31, 2020.. On October 23, 2020, the Central Government announced the Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to … Therefore, the amount under this Ex-gratia scheme must be credited to the borrower’s account by the Bank within the stipulated time. 10 Lakh in the event of death of an employee of the Central Board. Section 29A of the National Housing Bank Act, 1987. Rule 4: Only the Present-Basic and Dearness Allowance (DA) are used for calculation. Get Unsecured Business Loan . Rule 1: Retirement Benefits or Ex-Gratia is/may be as per the popular Gujarat Model VRS Scheme Rules.. Rule 2: Minimum age to enter the VRS Scheme is 50 years.In other words, not more than 10 years of service should be left.. Rule 3: The actual Gujarat Pattern VRS model suggests only 36 months of salary as the maximum amount.But the VRS package for BSNL and … Yes. Main features of the ex gratia payment Scheme: • Loan accounts with sanctioned limits and outstanding not exceeding Rs.2 crores (aggregate of all facilities with all the lending institutions) as on 29.02.2020. ExamTray is not Amazon.com Inc. accredited. 40,32,000 ( It is less than 42 months salary). This ceiling may change. What is an Ex – Gratia Relief Scheme? Whether the Ex-Gratia payment shall be paid in cash or in the shape of any Bond ? The Government of India has announced a Scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts (01.03.2020 to 31.08.2020) (the ‘Scheme’) on October 23, 2020, which mandates ex-gratia payment to certain categories of borrowers by way of crediting the difference between simple interest and … deposits; The Company is having a valid Certificate of Registration dated 31/07/2001 issued by the National Housing Bank under Section 29A of the National Housing Bank Act, 1987. The Notification says, in addition to the lump-sum compensation or the amount of Ex-gratia of the Scheme, the employee shall be entitled to the terminal and other benefits, as applicable to the said employee under existing rules. The RBI has notified the Scheme for grant of ex-gratia fee of the distinction between compound interest and easy interest for six months ending August 31, 2020. 40,32,000, Final VRS Amount or Ex-Gratia = Rs. Email to: exgratiapayment@aavas.in. These are not final. It is expected around 1 lakh employees both from BSNL and MTNL will be opting VRS Scheme . RBI has ordered the lending institutions to complete the process crediting the amount in the accounts of borrowers by 05 November. DHFL cautions public against fake website. DoT has issued order for implementation of VRS 2019 Scheme subsequently guidelines for exercising Option to VRS 2019 also isued by BSNL. I authorise DHFL and its representative to call me or SMS me with reference to this enquiry. As per Rule 90­A, Part I, the Kerala Service Rules, Ex­gratia allowance equal to 35% of basic pay subject to a maximum of Rs. Pension Calculator This pension calculator illustrates the tentative Pension and Lump Sum amount an NPS subscriber may expect on maturity or 60 years of age based on regular monthly contributions, percentage of corpus reinvested for purchasing annuity and assumed rates in respect of returns on investment and annuity selected for. The Scheme mandates ex-gratia payment to certain categories of borrowers by way of crediting the difference between simple interest and compound interest for the period between March 1, 2020 to August 31, 2020 by respective lending institutions. What is the ex-gratia payment to the borrower scheme announced by Govt. Is any minimum qualifying service necessary for opting VRS? 3200, Compensation for Completed Years = 35 days x 25 x 3200 = Rs. 1.3.2020 to 31.8.2020, to the eligible borrowers in specified loan accounts, click here To read the detailed FAQs of the scheme, click here … However, the National Housing Bank are also eligible for coverage under the scheme, besides other specified categories of loans like consumer durables, automobiles, education, credit card dues, housing and personal loans to professionals. Scheme for grant of Ex-gratia payment of difference between compound interest and simple interest for six months to borrower in specified loan accounts (01.03.2020 to 31.08.2020) (2.85 MB) FAQ on COVID-19 Ex-gratia to borrowers for difference in interest dated 26.10.2020. The Ex-Gratia Payment Scheme is the payment of the difference between the Compound Interest and the Simple Interest for six months ending 31 August 2021 to borrowers in specified loan accounts. Rule 1: Retirement Benefits or Ex-Gratia is/may be as per the popular Gujarat Model VRS Scheme Rules. Rule 3: The actual Gujarat Pattern VRS model suggests only 36 months of salary as the maximum amount. The scheme mandates ex-gratia payment to standard accounts by lending institutions as per terms and conditions of the scheme. Railways:Regarding Ex-gratia payment Rs.25,00,000 AICPIN for the month of November 2020 LTC cash voucher scheme Calculator Expected DA from January 2021 Calculator List of Kendriya Vidyalaya Schools 2021: Quick links; Hot news: Dopt orders: Recent govt orders: Recent post: LTC Leave Enhancement Calculator For Block Year 2018-2021. 45,00,000, 42 Months Maximum Salary = (40000 + 1.4*40000) x 42 = Rs. Rule 2: Minimum age to enter the VRS Scheme is 50 years. Department of Telecommunication is finalising the modalities to implement the VRS Scheme to BSNL employees. The Company is having a valid Certificate of Registration dated 31/07/2001 issued by the National Housing Bank under Government of India (GoI) has planned a Revival Package for both BSNL and MTNL on 23.10.2019. What is the ex gratia Interest Relief scheme announced by Government of India? F. No.2/12/2020 – BOA.I dated 23rd October, 2020), for grant of ex-gratia payment of difference between compound interest and simple interest for six months i.e. The payable ex-gratia amount shall have to be credited to the account of the borrower by the respective lending institutions as ex-gratia payment under the scheme on or before 5.11.2020. ", *The information mentioned herein is subject to change without prior notice. 2,50,000, Expected Compensation Amount = 17,50,000 + 2,50,000 = Rs. The relief will come to borrowers in the form of grant of ex-gratia payment of difference between compound interest and simple interest for six months (from March 1 to August 30). Terms and conditions apply, Disclaimer - "As regards deposit taking activity of the company, the viewers may refer to the advertisement in the newspaper / information furnished in the application form for soliciting public Test your Dance Knowledge - Dasavatar Dance etc. Kind of Loans and … Rule 5: If the final compensation amount is more than 42 months of salary, only 42 months (DA + Basic) salary is given. No minimum qualifying service is prescribed for VRS under this scheme - Advertisement - Please define Column 8(ix) in BSNL VRS scheme with regard to nature of claim or compensation. Rule 8: An interest rate of 8% per annum is applied on the Gratuity amount until 60 years or 5 years after VRS whichever is earlier. LTC Cash Voucher Scheme Calculator 2020: Special Ex-gratia Compensation Scheme for FCI Employees and Officers for 6 Months. The Government of India has announced the scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts (01-03-2020 to 31-08-2020) (the ‘Scheme’) on 23-10-2020, which mandates ex-gratia payment to certain categories of borrowers by way of crediting the difference between simple interest and compound … ", List of Authorised Collection & Recovery Agents, DHFL Changing Lives Foundation (Subsidiary). Attractive VRS package is offered to BSNL Employees by DoT in order to reduce the salary budget. But the VRS package for BSNL and MTNL suggested 42 months maximum salary. Ex Gratia payment will be credited in the bank account of the official. (108 KB) This is based on News Portal information. Bajaj Finance Limited will provide Ex-Gratia payment to customer’s account of the difference between compound interest and simple interest on loan accounts with sanctioned limits and outstanding up to Rs.2 crores (aggregate of all the borrowings/ facilities from all the banks and financial Institutions) for the period from 1st March … Rule 6: The employee should serve at least 15 years even though he crosses 50 years of service. If you are an existing DHFL customer, for support / assistance on your account, please visit the Branch or call on 1800 3000 1919 or e-mail to response@dhfl.com, We have sent you an One Time Password (OTP) on your mobile number As per the government guidelines, lenders will credit the difference between compound interest and simple interest for six months (March 1 – August 31, 2020) into the credit account of borrowers. Amazon and the Amazon logo are trademarks of Amazon.com, Inc. or its affiliates. Is the loan eligible for ex-gratia payment under the scheme? 25,00,000, 42 Months Maximum Salary = (25000 + 1.4*25000) x 42 = Rs. Expected DA; Railways; Ministry of Finance; AICPIN; Press Release; NPS; CGHS; State Government News; Special Ex-gratia Compensation Scheme for FCI Employees. the company and for repayment of deposits / discharge of the liabilities by the company. In other words, not more than 10 years of service should be left. Redressal of Customer Grievances related to the Ex-Gratia Payment Scheme. correctness of any of the statements or representations made or opinions expressed by the company and for repayment of deposits / discharge of the liabilities by the company. Under this scheme, the Reserve Bank of India has asked all the lending institutions, including the NBFCs to waive interest upon interest for the loans up to Rs 2 crore that has been generated during the 6-month moratorium period. In view of the unprecedented and excessive COVID-19 scenario, the article of the Scheme is to offer ex-gratia fee of the distinction between compound interest and easy interest by means of reduction for the interval from 1st March 2020 to … … This may not show exact/correct amount. Our sales representative will get back to you soon. Benefits under the scheme would be routed through lending institutions. However, the loan will entail the simple interest charged during this period. Ex-Gratia Benefit Calculator As per the notified scheme, all the lending institutions will credit the difference amount of compound interest and simple interest to the eligible borrowers in their respective loan accounts for the specified period. Popular Gujarat Model VRS calculator as of now for all other Rules regarding Leaves and Leave.. To you soon of service Voucher scheme calculator 2020: Special ex-gratia scheme... 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